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By: Gavin Chait on 23 July 2007
If people voluntarily join the formal sector because their profits increase and their ability is rewarded then, yes, I am in full agreement.
But if people see greater value in remaining outside the formal sector then it is up to the formal sector to increase its benefits ... to attract, not force.
And that is why I declare that the informal market offers an immediate sense of how attractive formal market policies are. If there is an informal market then, clearly, the formal market isn't totally perfect.
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